Otish Energy Options Three Gold Properties in Guyana, SA
18 December 2010 - 1:30AM
Marketwired
Otish Energy Inc. (the "Company") (TSX VENTURE: OEI) is pleased to
announce it has signed letters of intent with Mr. Kennard Gobin of
East Coast Demerara, Guyana, SA to acquire all of the hard rock
mining rights (the "Rights") for the Guyana Geology and Mines
Commission Mining Permit No. 187/2010, Guyana Geology and Mines
Commission Mining Prospecting Permit PPMS/626/2010 and Guyana
Geology and Mines Commission Mining Prospecting Permit
PPMS/627/2010 in the Cuyuni Mining District #4, Guyana SA.
The consideration payable by the Company for the purchase of the
Rights will be US$10,000 payable in cash and 600,000 common shares
in the capital stock of the Company which shares will subject to
the usual 4 month restricted period required by the TSX Venture
Exchange and applicable securities legislation.
The purchase of the Rights is subject to due diligence by the
Company and the completion of formal documentation.
The Company is also pleased to announce that the assignment
agreement with Trevor Taylor of Ajax, Ont., (previously announced
in Stockwatch June 25, 2010) whereas Mr. Taylor agrees to transfer
to the company his exclusive and sole right title and interest in
the contiguous land block comprising six medium-scale prospecting
permits, comprising approximately 6,900 acres, located in Puruni,
Mazaruni mining district No. 3, Guyana is near completion. The
Company anticipates commencing a detailed exploration program on
the Purini project in early January 2011.
On Behalf of the Board of Otish Energy Inc.,
Steve Smith, President
This news release may contain forward-looking statements based
on assumptions and judgments of management regarding future events
or results. Such statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements.
The Company disclaims any intention or obligation to revise or
update such statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Otish Energy Inc. Steve Smith President 604 642-0115
604 642-0116 (FAX) steve.smith@telus.net www.otishenergyinc.com
Otish Energy Inc. (TSXV:OEI)
Historical Stock Chart
From May 2024 to Jun 2024
Otish Energy Inc. (TSXV:OEI)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Otish Energy Inc. (TSX Venture Exchange): 0 recent articles
More Otish Energy Inc. News Articles